UPDATE: Jinpan Int'l Private Proposal

Jinpan International Limited

, a leading designer, manufacturer, and distributor of cast resin transformers, today announced that its Board of Directors has established a special committee (the "Independent Committee") to consider the preliminary, non-binding proposal letter dated September 15, 2015 from Zhiyuan Li, the Company's Chairman of the Board of Directors, President, and Chief Executive Officer and Forebright Smart Connection Technology Limited (collectively, with Mr. Li, the "Buyer Parties"), to acquire all of the outstanding common shares of the Company not currently owned by the Buyer Parties in a going private transaction. The Independent Committee is composed of Dr. Li-Wen Zhang, Dr. Xu Cai and Ms. Jing Zhang, each of whom are independent directors of the Company. The Board of Directors appointed Dr. Li-Wen Zhang as the Chairperson of the Independent Committee. The Independent Committee is in the process of engaging a financial advisor and legal counsel to assist it in its work. The Board of Directors cautions the Company's shareholders and others considering trading in its securities that no decisions have been made by the Independent Committee with respect to the Company's response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to the proposed transaction, except as required under applicable law.